>Bitcoin is a store of value
>That means it maintains its value over time
>And it gets its value from being a store of value
>that means It maintains its value over time because it maintains its value over time
>mfw
Bitcoin is a store of value
James Parker
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Dominic Perez
OP doesn’t understand inflation.
Bitcoin is an inflation hedge. That’s it.
It’s value comes from the stable and fixed supply. That’s it.
Demand could collapse but supply will always be stable and fixed. Actually, supply eventually can only decrease with lost wallets, only helping price.
Unless people’s fear of losing wallets scares them and demand falls.
Lucas Parker
> ignores 'value' of the most perfect form of money ever created in human history
your feeling when.
Carson Carter
True, but why do we even have demand? That's the retarded thing about bitcoin. Demand only exists because of people betting on a price increase. Bitcoin doesn't have any real life uses except dark net.
Jayden Parker
> 'real life uses'
> for cash
What world do you live in?
Blake Barnes
just hodl dude
cash out in 5 years
Carter Mitchell
>a unit of account that is transactable without a third party and economically infeasible for even the largest politically motivated actors to censor or attack is trivial to create and doesn't have value
>SHA-256 hashes are free
Alexander James
OP is a confirmed retard and probably thinks fiat currencies are okay.
Benjamin Diaz
OP you're clearly like a really smart guy, please look into buying some BSV
James Adams
>real life uses
you can buy a lambo at my local exotic car shop with bitcoin
John Williams
Why is there demand for gold as a “store of wealth”
Gold is accumulated not because of its industrial uses or use for jewelry.
Gold is durable. It can sit at the bottom of the ocean for 300 years and be recovered in identical condition. Gold supply is somewhat stable, and it’s hard to counterfeit. But supply is altered by mining gold which has rates that fluctuate where as crypto supply changes are baked into the algorithm and cannot change.
Durability and stable supply is why it used as an inflation hedge.
Crypto currencies have both of those attributes but actually better than gold does.
Crypto is also easier to store and to transfer.
There is a psychological group think element to demand. A critical mas if people need to agree it is a stable inflation hedge.
For the purposes of preserving buying power, cryptocurrencies are superior to all other mediums because:
> stable supply.
> cannot be counterfeited.
> durable and cannot be destroyed (only lost or stolen, same as gold)
> easier to store and transfer than physical objects
The only thing close to crypto in these attributes with an equally stable supply is arguably art of deceased artists.
That’s why ultra wealthy invest huge sums in art. Not for its beaty, but because of fixed supply, and it cannot be counterfeited (generally). It can destroyed / lost and stolen.
Crypto is superior in art regarding durability and ease of storage and transfers.
So for hedging inflation, crypto is in all aspects the best medium that exists due to its attributes.
Anthony Martinez
>he doesn’t realise bitcoin keeps correcting upwards
When it’s a million each, you will. Come back then
Brayden Wilson
>Bitcoin is easy to transfer
>3 transactions per second
>400,000+ transactions per day put fees above $50 and wait times as high as 10 hours
>Implying Gold ISN'T accumulated because of jewlery and industrial usage
50% of Gold is used in jewelry.
9% Electronics
6% Industrial
statista.com
Gold has use. Bitcoin is bullshit. Saying something has a stable supply means nothing. It's Supply and DEMAND that gives value. Just having a limited supply doesn't mean anything. I could bottle my shits and say there are a limited supply of shits I took between 2016-2018! wow! limited supply! Your IQ is sub-normal
Also Bitcoin can be counterfeited if miners collude. Bitcoin can be rolled back if miner's collude. Gold is more immutable than Bitcoin.
Kayden King
but this isn't a skycoin thread
Grayson Wilson
Is that what berds use?
Samuel Campbell
>$50 and 10 hours to transfer bitcoin.
How easy is it to transfer $1,000,000 worth of gold (approximately 45 lbs, 22 kg) ?
How much does it cost to store or secure that gold? Big safe in your home? Rent a larfe deposit box at a bank? Crypto storage is cheaper and wallet keys are easier to hide with hardware wallets.
>Miners can conspire
There is no incentive to do that because it would kill confidence in bitcoin and also kill their income, their mining operation would be worthless.
Jason Roberts
Not to mention if you want to transfer the gold to another location 1,000 miles away it’s going to be more than $50 and 10 hours to arrange and schedule transport.
Noah Gutierrez
Except it costs $5 just to do a transaction. If you own BTC because you think its can be used as an actual currency you are fucking retarded
Colton Clark
It’s costs a lot more to transfer gold.
I think bitcoins usefulness will be as an inflation hedge.
Another crypto will be adopted for day to day purchasing.
Nathaniel Thompson
I just showed how bitcoin isn't gold in any way. These Gold analogies just show how much of a brainlet you are
Sebastian Gutierrez
Bitcoin is useless for darknet because it isn't anonymous and has high fees. Eventually every criminal who still hasn't figured out how to use Monero is going to be in prison.